| An LLC operating agreement is an agreement that lets | | | | or deliver it to the office yourself. If creating it online |
| you configure your financial relationships as well as | | | | and selecting the express option, your LLC could be |
| your business relationships with the co-owners to | | | | approved in as little as two days. At the time of |
| establish the way your business will be run. In the | | | | registering your company, you will need to pay the filing |
| operating agreement, your co-owners will establish | | | | fee, which is as high as $900 in some states. |
| each owner's percentage of ownership, their share of | | | | The last step is to obtain your final documents. These |
| profits (or losses), responsibilities and rights, and what | | | | will automatically be mailed to you. The delivery time |
| will happen if anyone ever leaves the organization. | | | | varies, but usually in approximately two weeks. |
| It is not legally necessary in all states to form a limited | | | | Though the limited liability company does protect you |
| liability company. It is, however recommended to | | | | personally, you are not totally exempt in all cases. |
| protect your and partners' personal assets. It ensures | | | | Some instances that may arise and cause you to |
| that your business is governed by your rules and not | | | | personally be sought after are: if you personally or |
| the rules of the state you reside in. | | | | directly injure someone, personally guarantee a |
| First and foremost, you want to make sure that your | | | | business loan or bank loan in which the LLC defaults |
| company name is unique in your state. Lastly, all limited | | | | on, fail to deposit taxes withheld from your employees |
| liability companies must end in LLC or L.L.C. | | | | wages, intentionally doing something reckless and or |
| The next step is to create your Articles of | | | | harmful to the company or someone else and lastly if |
| Organization. You can obtain the form online at your | | | | you use the business as an extension to personal use |
| states Secretary of State website and submit it there, | | | | and not a separate entity. |